How Much is the 50 Cent House in Farmington Worth? | CTRob | Rob Giuffria, GMS | Connecticut Real Estate

How Much is the 50 Cent House in Farmington Worth? | CTRob | Rob Giuffria, GMS | Connecticut Real Estate

Rapper and actor 50 Cent, who filed for bankruptcy in Connecticut this past summer, is again trying to unload his Farmington mansion.

The entertainer Wednesday listed the 21-bedroom, 25-bathroom at 50 Poplar Hill Drive for $8.5 million, the latest in a series of reduced asking prices since 50 Cent first began trying to sell the property in 2007.

50 Cent, whose real name is Curtis James Jackson III, bought the mansion for $4.1 million in 2003, but reportedly spent between $6 million and $10 million on renovations. The megamansion also has been owned by boxer Mike Tyson and was built by real estate swindler Benjamin Sisti, a founder of the defunct Colonial Realty empire.

Douglas Elliman Real Estate, which specializes in high-end residential real estate and has an office in Greenwich, has the listing. The listing broker, Jennifer Leahy, could not be reached for comment.

Rob Giuffria, president of Prudential Premier Homes in Farmington and an expert in the area's high-end residential real estate, has said for years that he doesn't believe the property will sell for more than $5 million.

"8.5 million? Not a chance," Giuffria said late Wednesday. "50 would have a better chance being a country music singer."

Jackson had been trying to lease the estate, he told the bankruptcy court in August.

In 2007, the rapper asked $18.5 million for the 50,000-square-foot mansion on 17 acres. That price was reduced four times to $10 million by the end of 2010, the estate on and off the market several times. The most recent listing expired at the end of 2013.

The mansion, which 50 Cent says costs about $67,000 a month to maintain, also has an indoor pool, a gym, racquetball courts and a disco with a "dancing room" that featured stripper poles.

In his Chapter 11 bankruptcy filing, 50 Cent's top 20 creditors were owed $28.5 million, and his assets were listed at about $24.5 million.

The rapper also owed money to local firms, including a West Hartford lawn care company, a Manchester heating and air-conditioning contractor, an Agawam, Mass., carpet cleaning company, a Hartford attorney, and a Bristol hot tub company, according to bankruptcy court filings.